Klaas Knot, president of De Nederlandsche Bank spoke to CNBC in Davos.
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DAVOS, Switzerland – The European Central Bank will not stop short of a single 50 basis point hike at its next rate-setting meeting, one board member told CNBC Thursday.
“It won’t stop after a 50 basis point hike, that’s for sure,” Klaas Knot, who is the governor of the Dutch central bank, said of the ECB’s upcoming move.
The European Central Bank raised rates four times in 2022, with the deposit rate to 2%. The central bank in December said it would raise rates in 2023 to tackle extremely high inflation.
Recent data has shown a slowdown in headline inflation, although it remains well above the ECB’s 2% target.
December inflation came in at 9.2% in the euro zone, according to preliminary figures. This is the second monthly drop in prices in the euro zone.
This is the latest news and is being updated.